In 2019, Sato Ltd. received a grant for 2 million to defray the cost of purchasing research

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In 2019, Sato Ltd. received a grant for ¥2 million to defray the cost of purchasing research equipment for its manufacturing facility. The total cost of the equipment is ¥10 million. Prepare the journal entry to record this transaction if Sato uses (a) the deferred revenue approach, and (b) the reduction of asset approach.
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Intermediate Accounting IFRS

ISBN: 978-1119372936

3rd edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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